I'm in the position to apply(depending on lender DTI requirement) for conventional financing through the builder at <6% interest rate in this current market.

Yet because my house is in a close radius to the beach (only 2.5 miles as the crow flies--the 7 miles is what it takes to a drive out, around, then over the bridge), it seems like PriceLabs is using on-the-beach or walk-to-the-beach properties as comparables, and this may be leading to dynamic prices that are too high.I am not sure exactly how to fix this.

Not a lot of foreclosure activity because of all the equity gains, but that may change in the coming years with the loans on the mortgages written in the last 1-2 years being much higher (aka normal compared to pre-COVID).

You might be able to find a DSCR lender to work with.My 2 cents,Mike

But these are still new and could be rejected by a lender. 

I already teamed up with a home builder and private lender. 

All in, my mortgage is $1,100/ month and all comparables are renting for $1700/ month in my subdivision. 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

As you know a foreclosures is a legal way for the lender to take over the property and sell it. 

@Richard Edgar doing a cash out loan on land is EXTREMELY hard...I might even say impossible...but I can't speak for every lender in the country on this though.